Law360, New York (September 14, 2016, 9:24 AM EDT) — The United States and Cuba marked another historic milestone recently when JetBlue Flight 387 sojourned from Fort Lauderdale, Florida, to Abel Santamaria Airport in Santa Clara, Cuba. Flight 387 was the first direct commercial flight between the two countries in more than a half-century. Six…

Though it has navigated the global slump in oil prices better than some of its neighbors, Colombia’s economy has still not been immune, as shown by indicators including slowing business volumes. Latin America Financial Services Adviser asks: Will Colombian Banks Thrive in the Months Ahead? How are Colombia’s current economic conditions affecting the country’s ﬁnancial services…

Financial Services Advisor, a publication of The Dialogue, Latin America Advisor,* asks: What Has Changed Since the Panama Papers Leak? Q: The massive Panama Papers data leak earlier this year drew media attention and regulatory scrutiny for ways elites around the world have hidden wealth from tax authorities. What has been the impact on financial services…

Miami Medicare fraud made headline news again this week when at least 100 South Floridians were named among the 300 medical professionals suspected and arrested on various counts of Medicare fraud, nationwide. At least 65 of those 100 Floridians were in Miami—a city considered to be the “capital of healthcare corruption.” All of the individuals charged in…

Caribbean banks address fears of severed ties with U.S. banks due to fines and higher costs in a new set U.S. compliance regulations issued by the U.S. Department of the Treasury Financial Crimes Enforcement Network. With the release of the Panama Papers, many investors, banks, financial institutions, and foreign countries are concerned that the traditional shell company may…

The sensational leak of the Panama Papers has created significant international controversy with names of both the wealthy and famous being linked to entities established in tax havens—jurisdictions known for preferential tax regimes. As expected (or intended), the leak has initiated a wide range of regulatory investigations that are now underway across much of the…

Leaked data needs to pass the test of ‘accuracy of evidence’ The so called ‘Panama Papers’ have dominated media headlines in recent days, creating shock waves that have reverberated across the world. It is claimed that a staggering number of about 11.5 million confidential records of the Panamanian law firm, Mossack Fonseca, were leaked to…

Michael Diaz, Jr. on the recent fallout from the Panama Papers – Mossack Fonseca leak. Featured Q&A – Financial Services Advisor, a publication of Inter-American Dialogue. Q: Panamanian President Juan Carlos Varela on April 6 announced that his government will create a panel of international experts in an effort to improve transparency in the country’s offshore…

Why do companies—even large multinationals—often overlook compliance with U.S. export control laws despite the serious repercussions for noncompliance, including denial of export privileges? One of the possible reasons could be that in many instances organizations are not completely familiar with the nuances of the U.S. export control regime. Regardless of the underlying reasons for non-compliance, the consequences…

What The New US-Cuba Aviation Agreement Means For The US Law360, New York (March 15, 2016, 10:58 AM ET) — One of the myriad consequences of the United States’ embargo against Cuba has been the lack of commercial airline service between the two countries during the last five decades. However, in another move reflective of…

Diaz Reus Partner Marta Colomar-Garcia, acting as Plaintiffs’ co-lead counsel overseeing eight separate class action lawsuits in Argentina’s 2001 $100 billion default, says that Plaintiffs have not been able to engage in genuine and substantive settlement discussions with Argentina in an attempt to resolve the litigation. Earlier in 2016, Colomar-Garcia said that she found out…

LATIN AMERICAN FINANCIAL SERVICES ADVISOR, a publication of Inter-American Dialogue, asks: Are Banks Working Together Enough to Prevent Crimes? Q: Financial messaging service provider SWIFT said in January that more than 2,000 financial institutions worldwide had signed up for its centralized Know Your Customer (KYC) registry, through which companies can share information required for KYC compliance.…

Law360, New York (February 22, 2016, 3:43 PM ET) — The United States Census Bureau estimates that 400,000 new businesses are established, nationwide, each year. This year, among that large number is a small Alabama startup. In a historic deal approved by the U.S. government, the two-man, Alabama-based company, Oggun, is expected to build a multimillion dollar…